It seems that the smiles on Barack Obama's face are to do with rising stockmarket prices. Trouble is, the price is rising in step for nearly everything in metal and energy. That means inflation, not economic growth. Smiles might get wiped off pretty soon...

I think a strong case can be made to say that the "price crash" from $140 per barrel (actually $147) was mostly due to the onset of the "recession".

The so-called "recession" was actually the property bubble bursting once and for all, with all that re-packaged house debt suddenly caving in on itself.

Watch the next six months for prices of all metals and energy. The consistency and speed of up-tick could well surprise you if you believe the "financial speculation" theory of the high price of oil in the first half of 2008.

I think the US opens up its reserves if the price comes anywhere close to 150. Take the air conditioning industry for example. This is about more than just gas. Oil prices at 200 dollars a barrel would overwhelm the economy and under my scope would greatly affect the hvac industry as well. This economy has made too much of a comeback, we will open up the reserves and keep houses running and regulated._________________"How High Will I Go"